HIGHLIGHTS-G7 leaders comments after meeting (at Reuters)

WASHINGTON, Oct 10 (Reuters) - Group of Seven financial officials said on Friday that they would work together to do everything necessary to free up credit and money markets, saying the current situation called for urgent and exceptional action. The group was meeting ahead of an Oct. 11-13 gathering of finance ministers and central bankers from around the globe at the annual meetings of the International Monetary Fund and World Bank. Following are highlights of comments by the G7 leaders. U.S. TREASURY SECRETARY HENRY PAULSON in prepared statement: "I briefed my colleagues on the work we are pursuing to implement swiftly and thoughtfully the new financial rescue package. We are developing strategies to use the authority to purchase and insure mortgage assets and to purchase equity in financial institutions, as deemed... [read full story]